A hydroxyphenylcyclohexanol compound is useful as a raw material of various medicines and industrial chemicals. Patent document 1 describes a method for producing 4-(4-hydroxyphenyl)cyclohexanol by catalytically hydrogenating 4,4′-biphenol using as a catalyst palladium carbon having undergone a treatment for changing activity. Non-patent document 1 describes a method for producing 4-(4-hydroxyphenyl)cyclohexanol from 4,4′-biphenol under atmospheric pressure at a temperature of 90° C. using a nickel-aluminum alloy in the presence of a 1 mass % potassium hydroxide aqueous solution.